North America

Norfolk Southern reported an increase in its fourth-quarter profits on Thursday, citing a?cost control strategy amid a fluctuating freight demand and persistent macroeconomic pressure. The U.S. Surface Transportation Board sent Union Pacific's $85 billion merger proposal back to the company earlier this month for revision. Surface Transportation Board has deemed that the December merger application is incomplete. Union Pacific CEO Jim Vena, however, said the request was routine and that the deal would still be completed in the first half 2027. Mark George, Norfolk CEO, said that the rejection of the merger request was more a "procedural" issue than a...

Investors responded this week to Big Tech's earnings with a harsh warning: They will forgive companies that spend record amounts if they bring solid growth but punish them if they don't. This shows how the stakes have changed in three years since ChatGPT was launched. Meta Platforms, which owns Facebook, saw its revenue surge by 24% during the quarter ending December. This was due to online advertising targeting that was boosted?by artificial Intelligence. AI was also responsible for a first quarter revenue forecast that surpassed estimates. Meta's increasing sales were able to?fund? data-center spending expected to rise by as much...

Lunate, based in Abu Dhabi, has appointed Mohammed Hassan Alsuwaidi as its executive chairman and managing director. He will be leading the firm's global expansion strategy. Lunate manages $115 Billion in assets, and describes itself in a press release as an independent commercial partner-led alternative investing company. Alsuwaidi will help to expand its international presence, and deepen institutional capital relationships. Over the next five years, the firm plans to double its assets under management. Alsuwaidi is the founder CEO of ADQ. The fund is owned by Abu Dhabi and is the third largest sovereign wealth fund in the emirate. Since...

Two sources familiar with the plans on Wednesday said that oil producer Chevron will increase exports of Venezuelan crude from the U.S. up to 300,000 barrels per day (bpd). This is up from 100,000 bpd last December and 230,000 bpd this month. The U.S. firm, which is the principal partner of Venezuelan state-run energy company PDVSA has chartered a dozen oil tankers in order to increase shipments at its projects and drain inventories accumulated since December when a U.S. ban on Venezuelan exports left millions of barrels in tanks and vessels onshore. Four Chevron - PDVSA joint ventures produce between...

Three sources familiar with this preparation revealed on Tuesday that U.S. officials are preparing to issue a license to lift'some sanctions' from Venezuelan energy companies. This is a departure from the previous plan of granting individual exemptions for sanctions to companies wanting to do business there. U.S. officials said that following the capture by the U.S. of Venezuelan president Nicolas Maduro in the first week of this month, Washington would ease the sanctions on Venezuela's energy sector to facilitate a $2 Billion oil supply deal and an ambitious $100 Billion reconstruction plan for the country's petroleum industry. In recent weeks,...

Trump's administration has suspended funding for the new $16. The Trump administration's suspension of funding for a new $16? In October, President Donald Trump announced that he had cancelled the project. His Republican administration has repeatedly targeted transit and infrastructure projects that are in Democratic-led States. At a Tuesday hearing, the Gateway Development Commission, a New Jersey Democrat and U.S. Rep. Josh Gottheimer said that the project would be suspended on the 6th of February if Trump did not restore funding approved under the former administration of?former president Joe Biden. He claimed that about 1,000 workers would lose their jobs...

Meta Platforms, the parent company of Facebook, will pay Gorilla Glass manufacturer Corning up to $6 billion in the coming years as part of a deal for fiber-optic cable supply for its AI data centres. Meta will be the main customer of Corning's advanced optical fiber, cables and connectivity products. Corning is also expanding its manufacturing capabilities in North Carolina including its cable factory in Hickory. Corning's optical connector products are among the key components needed to support massive computing and data transmission needs at?data centres. Corning shares will surge by 84% in 2025 due to the demand for their...

United Airlines unveiled on Tuesday its largest-ever summer schedule for the?Chicago O'Hare International Airport. The airline is escalating their battle with American Airlines to gain gates and attract higher-priced passengers in the city's third-largest airport. United Airlines, based in Chicago, said it expected to run a record number of departures daily from O'Hare during the summer season. This is up by nearly 170 compared to a year ago. The expansion comes just days after Scott Kirby, CEO of United Airlines, pledged to add as many flights as necessary to prevent American from gaining extra gates at United’s expense in the...

Ship tracking service Vortexa reported that exports of crude oil from U.S. Gulf Coast ports fell to zero on Sunday after a major winter storm swept the country. A recent Arctic blast has swept the United States, putting strain on energy grids and infrastructure. According to analyst predictions, up to 2 million barrels of oil production per day went offline over the weekend because of the cold weather. In a 'LinkedIn' post,?Samantha Santa Maria Hartke, head of?market analysis?at Vortexa said that the storm had reduced exports of liquefied petrol gas such as propane and butane to a third of seasonal...

GMS, a leading ship recycling company in Dubai, has told its CEO that it has applied for a U.S. licence to purchase and scrap vessels seized by the U.S. Government linked to Venezuelan oil trading. In recent weeks, the U.S. Coast Guard and military have seized seven vessels that either carried Venezuelan oil in their cargo or had done so previously. The seizure was part of Washington’s campaign to force Venezuelan president Nicolas Maduro from power, which culminated with U.S. forces capture him on January 3. Oil spills are possible while the vessels remain in the water. They are part...

The Federal Aviation Administration announced on Monday that seven people died and one was seriously injured when a private plane crashed in Bangor, Maine as it took off. The FAA reported that the crash of the twin-engine turbofan jet Bombardier Challenger 600 at Bangor International Airport occurred around 7:45 pm on Monday. The National Transportation Safety Board (NTSB) is investigating this crash that occurred during snowy weather conditions and low visibility. Bombardier has referred all questions to the NTSB. The Bangor Airport remained closed on Monday morning. An official from the government said that the plane had arrived at?Maine, Maine...

A federal judge ruled on Friday that President Donald Trump's administration illegally suspended funding to support the expansion?electric vehicle charger infrastructure. This was a win for the 20 Democratic-led state who sued the Trump administration over this action. U.S. District Court Judge Tana Lin ruled in Seattle in favor of the District of Columbia and 20 states that had filed their suit after the U.S. Department of Transportation suspended in February an EV charging infrastructure program enacted in 2021 by Congress under a Democrat President Joe Biden. Lin, a Biden-appointed official, stated that the DOT and Federal Highway Administration had...

Futures tied to Canada's major stock index rose Thursday as precious metals continued their rally,?oil climbed on geopolitical worries, and investors assessed the Big?Tech reports from the U.S. As of 6:05 a.m., March futures based on Toronto's TSX Composite Index (S&P/TSX) were up 0.3%. ET. Gold spot gained 1.4% and briefly hovered near $5,600 an ounce. This was due to the demand for safe havens amid continued geopolitical unrest and concern over the autonomy of the U.S. Federal Reserve. The U.S. Dollar's decline?slowed on Thursday but it remained near multi-year lows. Silver prices remained stable, but copper and other metals...

Norfolk Southern announced a higher profit for the fourth quarter on Thursday due to cost control. This was despite uneven freight demand, and a persistent macroeconomic stress. The results come after the U.S. Surface?Transportation?Board earlier this month returned Union Pacific's $85 billion merger proposal with the company to be revised. Surface Transportation Board has deemed Union Pacific's December merger application incomplete. However, Jim Vena, the CEO of Union Pacific, said that the request was routine and the deal is still on schedule to close in the first half of 2027. Norfolk stated in October that it anticipated future top-line fluctuations...

C.H. Robinson's fourth-quarter profit was above Wall Street expectations on Wednesday as cost control helped the global freight forwarder to mitigate the impact of a weak demand in a challenging international trade environment. In aftermarket trading, shares of?the company? rose 6.3%. The largest U.S. Freight Broker reported a 5% drop in operating costs for the quarter. Personnel expenses, other selling, administrative and general costs all fell by about?5%. The average number of employees fell by 12.9% during the fourth quarter. C.H. Robinson has increasingly used artificial intelligence to streamline operations and reduce manual processes. This shift is occurring as the...

The futures for Canada's main index of stocks rose on Wednesday, as gold prices reached a new high. Investors awaited the interest rate decisions that would be made by the U.S. Federal Reserve later in the day. As of 5:41 a.m., March futures for Toronto's S&P/TSX composite index were up 0.16%. ET. Spot gold rose 1.6% and briefly surpassed $5,300 an ounce as the U.S. Dollar sank to four-year lows before stabilizing after President Donald Trump dismissed January's decline. At its next policy meeting, the Fed is expected to?keep rates unchanged. However, the decision will likely be overshadowed due to...

Gatik announced on Tuesday that it had secured $600,000,000?in contract revenue and has deployed 'fully driverless trucks' for commercial operations. This highlights the ambitions of the autonomous trucking company to gain a foothold in the market. The heavy regulatory scrutiny surrounding safety has made the commercialization of autonomous vehicles a challenge. However, advances in artificial intelligent have helped many firms improve their technology. Gautam Nang, CEO and founder of Gatik, said: "Today we operate fully driverless trucks across multiple logistic networks and markets. We serve the largest retailers and CPG firms in the country." Gatik's trucks operate nearly?24-hours a day....

United Parcel Service, the largest package delivery company in the world, announced on Tuesday that it will close 24 additional facilities and eliminate up to 30,000 positions by 2026. This is due to its ongoing shift towards a'more profitable business. In midday trading, shares of the company rose 4%. The company also announced fourth quarter results that exceeded Wall Street expectations and forecasted a surprise increase in annual revenue. FedEx shares gained 2.6%. Carol Tome, CEO of the company, said in a conference with analysts that the company plans to reduce Amazon deliveries. "We are now in the last six...

Union Pacific, the U.S. railroad, reported results for its fourth quarter that were below analyst estimates on Tuesday. This was due to a 'volatile freight market and macroeconomic pressures', which strained its operations. Last year, the?company unveiled an A $85 billion acquisition bid It will create the nation's first coast-tocoast freight railroad. Rail unions have been vocal in their opposition to the merger, claiming that it could threaten jobs and raise costs for shippers. The U.S. Surface Transportation Board returned the proposal for revision in early?this week, citing that it was missing information. It also applied tougher competition rules after...

The U.S. Surface Transportation Board sent Union Pacific's $85 billion merger proposal with Norfolk Southern back to be revised on Friday, saying that it was missing required information. This is part of an ongoing review by the U.S. The STB rejected the application in December, citing a lack of projections on market share and competition impacts. The board denied the application without prejudice and allowed the railroads to re-file once they addressed the deficiencies. Donald Trump publicly supported the merger proposal. The administration tends to 'approve large transactions or impose remedy rather than blocking them outright. A merger of this...

J.B. Hunt Transport Services, a U.S. trucking company, reported an increased profit for the fourth quarter on Thursday. This was largely due to a strong shipping demand during peak season and efforts made by all departments to reduce costs. As volumes increase, carriers add seasonal surcharges. The company is pursuing cost reductions in order to increase efficiency. This is because the trucking industry has been experiencing a downturn for'more than three years, marked by excessive capacity and seasonal volume increases, which have kept rates low. The expectation of a U.S. trucking market turnaround in 2026 is gaining momentum. This is...

PlusAI, the self-driving vehicle startup, announced on Monday that it would launch Southern Europe's very first program to test heavy-duty autonomous vehicles. It will also expand its partnership with Iveco Group and brand IVECO. Two IVECO S-Way truck equipped with PlusAI’s Level 4 autonomous driving.system will be tested on a 300-km route between.Madrid.and Zaragoza in 2026. A safety operator will also be onboard. Trials will be conducted with Spanish logistics operator Sese, and the regional government of Aragon. PlusAI in Silicon Valley, with offices in Europe and America, has been working with Iveco on joint research and tests for many...

Ziad El Chaar, CEO of Saudi real estate developer Dar Global, announced on Sunday that two Trump-branded luxury projects will be launched in Riyadh (Saudi Arabia) and Jeddah (Jordan). Chaar said that the projects include the Trump National Golf Course in Riyadh and the Trump International Hotel at Diriyah. This is a massive project located on the western edge of the Saudi capital. Chaar said that a mixed-use development called Trump Plaza is planned for Jeddah. Chaar stated that the projects were in line with Saudi Arabia's Vision 2030, which aims to diversify its economy and move away from oil....

Aluminum consumers in the United States pay record prices. These are significantly higher than the import levies, transport costs, and other factors would suggest. This is because tight supplies globally exacerbate the impact of the tariffs, and the low U.S. inventory. Aluminium is needed by industries like automotive, aerospace and packaging. Aluminum prices can have a knock-on effect on the economy, as they increase manufacturing costs, squeeze margins, and eventually drive inflation. In June, President Donald Trump increased tariffs on U.S. aluminum imports from 25% to 50% to encourage local production. Aluminium?costs have increased by 40% for U.S. customers since...